Fed Leaves Rates Unchanged

MARKET SUMMARY

U.S. markets traded to fresh all-time highs on Wednesday’s open but weakened ahead of today’s FOMC announcement to finish mixed. The Dow and S&P 500 closed in positive territory for the second-straight session after peaking at intraday highs of 23,517 and 2,588, respectively. The Nasdaq tapped a record high of 6,759 while holding the 6,700 but went out with a loss of 0.2%. The Russell 2000 remained volatile following a 0.7% decline and close back below the 1,500 level. The index has failed to make a lifetime high since peaking just south of 1,515 on October 5th.

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HOW MARKETS FOOL US

ANALYST UPGRADES / DOWNGRADES

American Airlines (AAL) upgraded to Overweight from Neutral at JPMorganMosaic (MOS) was upgraded to Buy from Neutral at Cleveland ResearchWeatherford (WFT) upgraded to Buy from Neutral at Seaport Global with ANA

Check Point (CHKP) was downgraded to Equal Weight from Overweight at StephensGeneral Motors (GM) downgraded to Neutral from Buy at Nomura InstinetGoodyear Tire (GT) downgraded to Neutral from Buy at Guggenheim